Ferrochrome price is expected to go up in US, China, India, Europe and Japan, do to the tight supply. Is an essential alloy in the production of stainless steel. US, China, European Union and Japan has no chrome ore production or significant reserves.
China overtook South Africa to become the largest producer of Ferrochrome worldwide. The demand for chromium metal is expected to rise by more than 10% in 2015 do to growing demand in stainless steel industry.
Nearly all of the Ferrochrome produced in China relies on imported chrome. From 2004 to 2015, China´s production of high carbon Ferrochrome increased by nearly 10 times, this production till cannot meet domestic demand. China consumed 5.7 million tonnes of Ferrochrome in 2014 and is estimated near 6 million tones in 2015.
Chrome ore has no substitute. Add it to carbon steel in the form of Ferrochrome and the steel becomes stainless steel corrosion resistant, mechanically strong, heat resistant, hard wearing, shiny and glamorous.
Stainless steel is used everywhere in modern life from nuclear reactors, pipes, medical equipments, railroad, airplane and thousands other applications.